"Since 2003, this for-profit firm based in Orange County—home to busted subprime behemoths such as Ameriquest—has issued $220 million worth of mortgages in the Golden State's subprime killing fields. More than 90 percent of its home loans have gone to first-time buyers, about half of whom are minorities. Out of 770 single-family loans it has made, how many foreclosures have there been? "As far as we know," says Bystry, "seven." Last year Clearinghouse reported a $1.4 million pretax profit." institutions in the article include some credit unions.